Bradley Foster & Sargent Inc. CT Has $2.30 Million Stake in APi Group Corporation $APG

Key Points

• Bradley Foster & Sargent cut its APi Group stake by 45% in the first quarter, selling 46,352 shares and retaining 56,721 shares valued at approximately $2.30 million. Institutional investors collectively own 86.62% of APG.
• APi Group exceeded quarterly expectations, reporting $0.32 in EPS versus a $0.30 consensus and $1.98 billion in revenue, up 15.3% year over year. The stock opened at $39.58, below its 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $53.17. However, insiders sold roughly 3.45 million shares worth $149.2 million over the past 90 days.

Bradley Foster & Sargent Inc. CT lessened its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 45.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,721 shares of the company's stock after selling 46,352 shares during the period. Bradley Foster & Sargent Inc. CT's holdings in APi Group were worth $2,298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Rathbones Group PLC raised its stake in APi Group by 215.7% during the 4th quarter. Rathbones Group PLC now owns 211,909 shares of the company's stock worth $8,108,000 after buying an additional 144,789 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in APi Group by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,831,219 shares of the company's stock worth $188,273,000 after acquiring an additional 92,816 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in APi Group by 75.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 68,108 shares of the company's stock valued at $2,606,000 after acquiring an additional 29,270 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in APi Group in the fourth quarter valued at approximately $5,593,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of APi Group by 628.7% during the fourth quarter. Hantz Financial Services Inc. now owns 174,019 shares of the company's stock valued at $6,658,000 after acquiring an additional 150,139 shares in the last quarter. 86.62% of the stock is owned by institutional investors.

APi Group Stock Performance

Shares of APG stock opened at $39.58 on Monday. The firm has a 50-day moving average of $41.55 and a 200-day moving average of $42.78. The company has a market cap of $17.15 billion, a P/E ratio of -55.74, a P/E/G ratio of 2.31 and a beta of 1.60. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. APi Group Corporation has a one year low of $33.40 and a one year high of $49.99.

APi Group (NYSE:APG - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. Equities research analysts forecast that APi Group Corporation will post 1.71 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the transaction, the director owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. This represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony E. Malkin sold 7,000 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total transaction of $297,290.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. 18.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

APG has been the topic of a number of research reports. Robert W. Baird set a $52.00 target price on APi Group in a research report on Friday, May 1st. Citigroup reissued a "buy" rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded shares of APi Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. Finally, Truist Financial set a $55.00 price objective on shares of APi Group and gave the company a "buy" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.17.

APi Group Profile

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.

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